The Wall Street Journal notes that Thulin said that 3M's fourth-quarter sales in China were up 10 percent (excluding electronics), an improvement over sluggish demand last year.

Meanwhile, Reuters said that Maplewood-based 3M is moving to combine its security and traffic-safety units, which will eliminate about 300 jobs. Lower government spending was a factor in the move.

Thulin said he wasn't planning any huge changes at 3M (NYSE: MMM), but that he would move quickly to fix or sell any businesses under strategic review. "They will not stay under strategic review for long," he said.